Mr. Jaffer Sharief during a hunger strike in Eidgah Khuddus Sab demanding a CBI probe into misappropriation of funds of Amanath Co-operative Bank (ACB). Also seen in picture, is Mr. Rizwan Asad, Editor- Chief, Nasheman. File Photo.
Bangalore: The Karnataka High Court on Tuesday ordered former Union minister C. K. Jaffer Sharief to submit a fresh affidavit, following objections raised by an appellant representing the Amanath Bank Welfare Association.
The appellant Mohammed Wazir Baig, complained that the signature on the affidavit furnished by Mr. Sharief is not his, and alleged that it’s forged.
Mr. Sharief in the previous court hearing on October 16th had informed the court of his intention to take over the beleaguered Amanath Co-operative Bank (ACB), and was asked to submit his scheme of action in detail before the next court hearing on 21st.
ACB has over 2 lakh 30 thousand customers, whose deposits have been frozen by RBI, following its directive to sieze the bank’s operations after revelations of misappropriation of funds on part of the Board of the Bank came forth.
According to sources close to Nasheman, Mr. Sharief would have to pump in at least Rs. 420 crore to pay the depositors and to operate the Bank. A total of Rs. 285.11 crore depositor money is stuck in the bank.
The court has also ordered ACB to furnish its balance sheet and other details, which the court will review before deciding the fate of the Bank.
The court will hear all the appeals related to the issue on October 30th.
